MOODY'S CAUTIONS SOME BIG CANADIAN BANKS

Oct 26, 2012

By Michael Kramer

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Moody’s has placed the long-term ratings of six Canadian banks on review for a possible downgrade.

The ratings agency¬† says it’s partly due to risks related to high levels of consumer debt and housing prices.

On Moody’s list are the Bank of Montreal, the Bank of Nova Scotia, Caisse Centrale Desjardins, C-I-B-C, the National Bank of Canada and Toronto-Dominion Bank.

Moody’s says high consumer debt levels and high housing prices have left the Canadian banks more vulnerable to downside risks to the Canadian economy.

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